Multiple trade covers in one policy
Are you sure your motor trade insurance policy covers everything you need? No two garages are the same, so why should your insurance be? That’s why you may require flexible solutions for your garage with combined motor trade insurance.
What is traders’ combined insurance?
Combined motor trade insurance is a combination of insurance policies that offer protection to your motor trade business. It brings together multiple levels of cover under a single policy — and usually a single payment and renewal date.
Traders' combined insurance offers a flexible solution for anyone working in the motor trade industry at business premises. Your motor trade policy can feature additional cover to protect your business, such as liability insurance, cover for stock, and business premises protection.
What can traders’ combined insurance cover?
Traders’ combined insurance seeks to provide an added safety net against your business' various risks. As it’s tailored to you, the exact details of your policy (and the type of cover selected) will vary.
Whether you run a motorbike dealership or a car MOT garage, most vehicles are covered under traders’ combined insurance. So, your policy will usually extend to cover cars, vans, motorbikes, minibuses, and even vintage vehicles in some cases. However, if you’re unsure speak to us and we’ll advise which vehicles and risks they’ll cover.
Policies may include the following:
- Road risks insurance — insures you to drive cars in connection with your business, including customers’ vehicles.
- Business premises cover — covers the cost of damage to your premises; for example, as a result of fire, flood, or theft.
- Tools and equipment — insures your motor trade tools and equipment against damage, theft, and loss, including ramps, diagnostic equipment, and handheld devices.
- Liability cover — covers fees associated with liability claims either from the public or employees; for example, due to an injury on your business premises.
- Vehicle stock — insures your stock of vehicles against theft, loss, and damage.
These are brief product descriptions only. Please refer to the policy documentation paying particular attention to the terms and conditions, exclusions, warranties, subjectivities, excesses and any endorsements.
Who needs motor trade combined insurance?
Anyone working in the motor trade industry at business premises should consider a motor trade combined insurance. Although it’s not mandatory, it’s a valuable option for extra business protection. Otherwise, you may need to cover the cost of lost or damaged items, legal fines, and compensation claims yourself.
Since every motor trade business is unique, we can adapt traders’ combined insurance to suit a wide range of dealerships and garages, whether working on a full-time or part-time basis. These can include:
- New and used dealerships and car sales garages
- Service and repair garages
- MOT stations
- Body shops
- Exhaust and tyre fitting services
- Recovery operators
- Classic car restoration
- Any other motor trade business with stock or premises
Why choose Gallagher?
When it comes to protecting your business, you’ll want to have adequate insurance so that you’re covered against damage recovery costs, expensive fees, and potential claims.
At Gallagher, our specialists are here to advise on which policies may suit your needs under combined motor trade insurance, with flexible payment options for your business. We get to know great detail of your motor trade operation, ensuring you have cover in place hoping you can focus on keeping your business running smoothly. Contact our team today, get a quote online in minutes or by calling 0800 062 2312.
Combined Motor Trade Insurance
- Combined cover for motor traders with premises
- Quotations over the phone from our dedicated motor trade team
- Extra covers available such as demonstration cover, tools cover and road risk
How much does motor trade combined insurance cost?
There’s no set fee for a combined motor trade policy. While one small dealership may only need cover for vehicle stock and premises, a larger garage may need full liability insurance and business interruption protection.
As such, the cost of your premium varies because combined motor trader insurance is tailored to your business.
Which factors affect the cost of combined motor trade insurance?
In short, several. From the size and location of your business to the number of people you employ, insurers consider many areas when quoting for combined motor trade insurance.
Factors that can influence your policy fee include:
- The size and location of your business.
- The cost of rebuilding your premises in the event of damage, e.g., from fire or flood.
- Your type of trade, i.e., whether you just sell vehicles, service and repair, or something else.
- How many people you employ, and whether they’re aged 25 or over.
- Employee driving history — especially their history of accidents and number of years with no-claims.
- The value and type of stock held, including all tools, equipment, and vehicles.
- The security protocols in place to protect your premises.
To reduce the cost of your premium, you may wish to take additional steps, such as:
- Limiting the number of employees listed on your policy, particularly young drivers.
- Installing additional security to your premises, such as surveillance cameras and gates.
- Limiting the number of expensive vehicles, tools, and equipment held on your premises.
- Increasing your no-claims discount.
- Paying annually rather than monthly.